Business

Revenues of Bulgaria's Telco BGN 1 B in 2002

The revenues of slated for privatization Bulgarian Telecommunications Company are BGN 1 B in 2002, the expected after-tax profit is BGN 260 M. That was announced by Transport Minister Petrov.

Business | December 18, 2002, Wednesday // 00:00 | Viewed: 405

Israel's Ashtrom Hopes for Big Infrastructure Project in Bulgaria

The Israeli construction company Ashtrom together with partner Roichman Bros expects to be contracted as the builder of Bulgaria's Trakiya highway. The consortium is among the short-listed 22 bidders in the tender of the Road Agency for construction of lo

Business | December 18, 2002, Wednesday // 00:00 | Viewed: 557

Over 27 Kg Cocaine Seized on Bulgaria's Boder with Turkey

A total of 27.44 kg of cocaine was seized at Kapitan Andreevo border check point some three hours after midnight on Wednesday.

Business | December 18, 2002, Wednesday // 00:00 | Viewed: 477

Finance Minister Expects Agreement with IMF This Week

Finance Minister Milen Velchev said that in case that the talks with the IMF mission to Bulgaria went well, there would be an agreement with the Fund this week. The IMF mission, lead by Jerald Schiff, arrived on Monday to smooth disagreements regarding th

Business | December 18, 2002, Wednesday // 00:00 | Viewed: 330

PHARE Funds Bulgarian Culture Tourism Projects

A EUR 7 M will be released under PHARE project for restoration and conservation of culture sites, to be approved in January, the Bulgarian News Agency reported. A financial memorandum was signed in late 2001 and the project is due to be completed in 2004.

Business | December 18, 2002, Wednesday // 00:00 | Viewed: 384

2002/2003 Matriculation Exams Removed in Bulgaria

Bulgarian students will not be required to pass obligatory matriculation exams for the 2002/2003 school year. That was announced by Education Minister Vladimir Atanassov, who took part in the meeting of the parliamentary groups of ruling party Simeon II N

Business | December 18, 2002, Wednesday // 00:00 | Viewed: 329

WB Approves USD 50 M Loan to Combat Poverty in Bulgaria

The World Bank approved a USD 50 M loan for a Social Investment and Employment Promotion Project (SIEP) in Bulgaria. The project aims to improve the living standard of people in poor Bulgarian regions, among long-term unemployed and ethnic minorities.

Business | December 18, 2002, Wednesday // 00:00 | Viewed: 302

Green Light for Bulgaria's Belene N-plant Mulled

Bulgaria's Cabinet will consider on Thursday a proposal for lifting the ban on the completion of Belene Nuclear Power Plant, to be moved by Energy Minister Milko Kovachev. The project for the construction of Belene N-plant near the Danube port of Belene,

Business | December 18, 2002, Wednesday // 00:00 | Viewed: 630

Privatisation Body Against Halt of Maritime, River Shipping Sales

Privatisation Agency (PA) protested against parliamentary proposal to take off the Navigation Maritime Bulgare and Bulgarian River Shipping Corporation off the privatisation list. According to the PA, the privatisation procedure has started and if suddenl

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 479

Hearing of Zeevi's Claims on Bulgaria's Busted Airlines Postponed

The Sofia City Court postponed the hearing of the two claims of Israeli businessman Gad Zeevi, owner of 75 percent-stake in Bulgaria's bankrupt flag carrier Balkan Airlines. In October 2001, the Sofia District Court took Zeevi off the list of the airline'

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 415

Deputy PM: There are Options for Bulgartabac's Deal

There are options for concluding Bulgartabac deal, Deputy Prime Minister and Economy Minister Vassilev said, but declined to specify them. The comment comes in the wake of December 16 ruling of Bulgaria's highest administrative court, which upheld the can

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 418

Operations of Navan Companies in Bulgaria Normal

Navan Chelopech and Bimak, daughter companies of Irish Navan Mining Plc. in Bulgaria, are not in any insolvency process and continue to trade and operate as normal under their own existing management, Ernst & Young LLP London announced.

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 1085

Minimum Pay in Bulgaria Rises by 10% 2003

Minimum pay in Bulgaria will see an increase by 10 percent in 2003, Deputy Finance Minister Krassimir Katev announced December 17. The National Council for Tripartite Cooperation approved the Cabinet's draft for regulation, which sets the minimum salary f

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 449

Rosbulgartabac Rules out Exit from Bulgaria's Tobacco Monopoly Deal

Rosbulgartabac will continue its participation in the privatisation procedure for 80% stake in state-owned company Bulgartabac Holding, Tihomir Trendafilov, representative of the consortium told local Darik Radio. The comment comes a day after a five-memb

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 813

Projects in Bulgaria's Transport Sector Worth BGN 1 B

Projects implemented by the Transport Ministry over the year are worth over BGN 1 B, Transport Minister Plamen Petrov told private national TV channel bTV. According to Minister Petrov the biggest challenge during 2002 was the selection of teams to handle

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 404

Mayors' Final Shot for Changes in Bulgaria's Draft Budget 2003

Municipalities' outstanding liabilities will tower at BGN 100 M at the end of the year, while deficit will exceed BGN 300 M in 2003. Venelin Uzunov, chair of the National Association of Municipalities in the Republic of Bulgaria (NAMRB), said that after d

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 387

Bulgarian-Chinese Association to Enhance Business Ties

Bulgaria and China agreed to create a joint trade association to assist cooperation of businesses from both countries. The association was geared during a Sino-Bulgarian economic forum opened in Beijing by Bulgaria's Parliament Speaker Ognyan Gerdzhikov.

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 439

Bulgarian Arms Maker TEREM Banned from Export Deals

The chief executives of the eight branches of defence plant TEREM will be barred from signing contracts with foreign partners for some time. The ban cames as a part of deterrent value measures introduced by Bulgaria's Cabinet in the wake of the arms scand

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 431

Court Hears Zeevi's Claims on Bulgaria's Busted Airlines

The Sofia City Court will hear the two claims of Israeli businessman Gad Zeevi, owner of 75% of Bulgaria's bankrupt flag carrier Balkan Airlines. In February 2001, he brought a suit for USD 230 M against the Privatisation Agency for breaching the privatis

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 408

Ruling on Bulgaria's Tobacco Monopoly Deal Confirmed

A five-member panel of the Supreme Administrative Court confirmed the decision of the three-member panel of the same court on the lawsuit filed against the choice of buyer for an 80% stake in state-owned company Bulgartabac Holding. In its October 29 ruli

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 598

IMF and Bulgaria's Government Positions Come Closer

The positions of the International Monetary Fund and the Bulgarian government come closer. That was announced by Jerald Schiff, head of the IMF mission to Bulgaria upon his arrival in Sofia.

Business | December 17, 2002, Tuesday // 00:00 | Viewed: 373
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